Calhoun, Inc. purchased equipment at the beginning of 2017 for $180,000, Calhoun decided to depreciate the equipment

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Question:

Calhoun, Inc. purchased equipment at the beginning of 2017 for $180,000, Calhoun decided to depreciate the equipment over a five-year period using the double declining-balance method. Calhoun estimated the equipment's residual value at $30,000. Which of the following statements is correct concerning Calhoun's financial statements at December 31, 2017?

a. The book value of the equipment is $72,000.

b. The book value of the equipment is $108.000

c. The total accumulated depreciation is $90,000.

d. Depreciation expense for 2017 is $00,000.